The Nordic Association of Marine Insurers (Cefor) has issued a Sanctions Due Diligence Questionnaire, containing a list of key questions to ask as part of the due diligence process in respect of specific voyages that are high-risk in relation to sanctions.
The questionnaire has been developed by the Cefor Sanctions Forum, in line with practices and requirements already in place. Furthermore, the Cefor Sanctions Due Diligence Questionnaire is a resource to ensure that necessary voyage information is provided to the insurer. This applies to, for example, voyages requiring an Additional War or Ice Premium.
The Sanctions Due Diligence Questionnaire can be found at the Cefor website, or at the website of the Cefor members.
To remind, last month OFAC had issued an advisory to alert persons globally to the significant U.S. sanctions risks for parties involved in petroleum shipments, and in addition strongly encouraged commercial entities to conduct sufficient due diligence.
